NIO (NYSE:NIO) Shares Down 1.9% - Here's What Happened

Shares of Nio Inc - (NYSE:NIO - Get Free Report) were down 1.9% during mid-day trading on Wednesday . The company traded as low as $3.77 and last traded at $3.80. Approximately 12,137,712 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 55,718,655 shares. The stock had previously closed at $3.87.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Mizuho reduced their price target on NIO from $5.00 to $4.20 and set a "neutral" rating for the company in a report on Monday, March 24th. JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. Citigroup decreased their price objective on NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a report on Monday, March 24th. HSBC downgraded NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, Cfra Research upgraded shares of NIO to a "hold" rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $5.17.

NIO Price Performance

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of -2.06 and a beta of 1.74. The business's 50 day simple moving average is $4.31 and its 200-day simple moving average is $4.73.

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NIO (NYSE:NIO - Get Free Report) last released its earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the previous year, the company earned ($2.81) earnings per share. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. On average, research analysts forecast that Nio Inc - will post -1.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings in NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after purchasing an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp increased its stake in NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after purchasing an additional 4,332 shares in the last quarter. Sava Infond d.o.o. acquired a new position in shares of NIO during the fourth quarter valued at about $44,000. Callan Family Office LLC bought a new position in shares of NIO during the 4th quarter worth about $44,000. Finally, Trilogy Capital Inc. acquired a new stake in shares of NIO in the 4th quarter valued at about $45,000. 48.55% of the stock is owned by institutional investors.

About NIO

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.